SOURCE: IO Circuit

October 06, 2006 06:45 ET Highlights Price Target of $3.25 for RENG

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- October 6, 2006 -- Radial Energy Inc. (OTCBB: RENG) announces today that it has signed a $5,000,000 convertible debenture financing with Cornell Capital Partners, LP and has received the first tranche of $2,000,000.

The debentures have a term of three years and bear interest at 7% per year. At the option of the holder, the debentures may be converted into Radial Energy common stock at a conversion price equal to the lower of $1.0536 or 90% of the lowest volume weighted average daily closing price of the Company's common stock, during the fifteen trading days immediately prior to the conversion date.

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